Tel Aviv, May 9th, 2018 - The Chief Scientist of the Israeli Ministry of Economy and Industry and Chairman of the Israel Innovation Authority, Dr. Ami Appelbaum, and the Governor of the State of Indiana, Eric Holcomb, signed a first-of-its-kind economic cooperation agreement this week to strengthen ties between the two states. As part of the agreement, a call for submissions will be published to promote technological R&D initiatives and cooperation in research in the fields of agriculture and life sciences. The joint initiative will be supported financially by the Israel Innovation Authority and the Indiana Economic Development Corporation (IEDC).
Indiana’s economy is one of the leading economies in the US with a very strong manufacturing sector. Indiana exports goods worth $100 million per year to Israel and imports a similar amount, with the main items of trade including electronics, chemicals, and transportation equipment.
Around one in five Indiana residents is employed by the manufacturing industry. The state enjoys the highest concentration of factories in the US, and its manufacturing industry has remained strong even after the 2008 economic crisis. The steel industry is one of the most prominent industries in Indiana, and its automotive industry ranks only second to Michigan in the US.
Indiana’s strong economic and industrial base and willingness to provide support makes it a prime destination for foreign companies looking to open operations in US.
Over the past several years, the Chicago Trade Mission of the Israeli Ministry of Economy and Industry’s Foreign Trade Administration has been working together with the Indiana Economic Development Corporation to develop this cooperation agreement.
The agreement was signed on Tuesday, May 9, as part of the 20th Agritech Israel Conference in Tel Aviv, where Governor Holcomb was the guest of honor.
“Precision Agriculture and Digital Health are both fields with significant potential for groundbreaking innovation which are opening new markets worldwide,” said Dr. Ami Appelbaum, Chief Scientist of the Israeli Ministry of Economy and Industry and Chairman of the Israel Innovation Authority. “The combination of Israel’s R&D expertise in these fields with Indiana’s leading manufacturing capabilities is exactly what will make this cooperative relationship so incredibly fruitful.”
Governor Holcomb, who is visiting Israel for the first time, said: ““Hoosiers (Indiana residents) are proud of the rich friendship we’ve developed with the State of Israel, and the MOU we’ve signed today takes this partnership to the next level. Indiana and Israel are tech and agbioscience powerhouses, and there are abundant opportunities for academic exchanges, mutual investment and cross collaboration between our two economies.”